JRCB(SZ:002807)2022-11-22 03:08Economic Overview - Jiangyin City is located at the geometric center of the Yangtze River Delta, with a developed manufacturing industry and active private economy. It contributes to 1/240 of the national GDP, 1% of A-share listed companies, and 1/50 of the top 500 Chinese enterprises [3] - In 2020, Jiangyin achieved a GDP of CNY 411.3 billion, with a growth rate of 3.0%. The total revenue of above-scale industries reached CNY 585.37 billion, growing by 1.3% [3] Bank Performance - As of Q1 2021, Jiangyin Bank's total assets reached CNY 143.98 billion, an increase of CNY 1.27 billion (0.85%) from the beginning of the year. Total deposits amounted to CNY 108.33 billion, up CNY 5.26 billion (5.1%), and total loans were CNY 84.31 billion, increasing by CNY 4.08 billion (5.1%) [3] - The net profit attributable to the listed company in Q1 2021 was CNY 228 million, representing an increase of 8.61% compared to the same period last year [3] Loan Growth - By the end of 2020, the balance of inclusive small and micro enterprise loans was CNY 14.43 billion, an increase of CNY 2.97 billion (25.9%), exceeding the overall loan growth rate by 11.1 percentage points. Personal loans reached CNY 14.49 billion, up CNY 3.86 billion (36.2%) [4] - In Q1 2021, the total amount of inclusive small and micro enterprise loans was CNY 15.87 billion, growing by 10.0%, while personal loans totaled CNY 16.30 billion, increasing by 12.5% [4] Asset Quality - As of the end of 2020, the non-performing loan (NPL) ratio was 1.79%, a decrease of 0.04 percentage points, marking four consecutive years of decline. The balance of special mention loans was CNY 816 million, down by 47.83% [4] - By the end of Q1 2021, the NPL ratio further decreased to 1.52%, down 0.27 percentage points, with a provision coverage ratio of 274.27%, an increase of 50 percentage points from the beginning of the year [4] Capital Adequacy - As of Q1 2021, the core Tier 1 capital adequacy ratio was 12.90%, the Tier 1 capital adequacy ratio was 12.91%, and the total capital adequacy ratio was 14.04%, indicating no immediate pressure for capital replenishment [4] - The bank has CNY 1.758 billion in convertible bonds yet to be converted, which will further enhance its capital after conversion [4]